John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

That is my point. Officials know my son and daughter but they do not know the drug dealer. It is weighted in such a way that makes it very strange for those who come under the legislation or the EU directive to accept it. I do not accept it. I accept the principle of what our guests are trying to do but I do not accept the way this is being addressed.

I am asking you as the officials who are central to this within the EU - and I am taking it up politically with the Minister - to look at this or give voice to the concern of honest individuals who are in parliaments everywhere. This is a further indication to those who cynically look at politicians and say they must be up to something because they are being dealt with under the money laundering and terrorist financing Act. The Department official said earlier that it is not meant to do that. This, however, is the consequence and this is what happens.

I have been a practising politician for a long time. I am annoyed with the EU and the way it is doing this. I am annoyed with our own MEPs because when I put it to them they said that they did not vote for it, when actually they did. They did not even know that they did. The sad thing about it is how all of these different EU directives find their way into Irish legislation without the due diligence of public representatives. I not blaming the officials but I am just interested in this whole position. I recall a very senior politician taking me to task in this House over what I had said about how politically exposed persons were being treated. He told me I was wrong. In fact, not only was I right, but it has since been compounded by other missiles that come in our direction from the European Union on this issue. As I said, I will take it up politically. These are the reasons the departmental officials are here - not to hold them to account, but simply for me to get to where this began, how it is all coming into operation and why it is like this.

I saw an article recently from a particular part of the financial sector that was giving its interpretation of what a politically exposed person is and what should be done. If I were to boil it down, I would say that the article said to be careful, to treat all of them with suspicion and, if they are politically exposed persons, to examine them at every quarter and make sure they are okay. When one goes into one's local credit union for a loan, it is not dealt with by the credit committee - it is dealt with by the board. One does not have to fill out one sheet; one must fill out 20 sheets. This is the consequence of the decisions that are being made over there. I want to catch the baddies just as much as the officials who are present do. I want to take the risk out of the financial institutions just as much as they do. I want to see those institutions scrutinised, perhaps a lot more than the officials do. I want to see them put in their place. At the same time, I do not believe that those of us who represent the public should be treated like this. I do not believe that family members should have to bear the consequences of their family member being a politically exposed person, a civil servant or whatever it might be. We have to be careful about these things. I am delighted that the officials are here before the committee.